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    Reference: 20180481
    Release date: 7 August 2019

    Promoter – Financial Intermediary

    NATURAL GAS PUBLIC COMPANY LTD

    Location

    Description

    The project will finance the construction of Liquefied Natural Gas import, regasification, storage and pipeline infrastructure.

    Objectives

    The aim is to introduce natural gas to Cyprus. The project is a critical component of the country's energy strategy in line with the EU regulations. It will introduce for the first time natural gas with a view to enable the country to enhance its energy security, reduce cost of energy, whilst at the same time meeting its energy mix objectives and reduce CO2 and other air pollutant emissions.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 150 million

    Total cost (Approximate amount)

    EUR 312 million

    Environmental aspects

    The project will require an Environmental Impact Assessment (EIA) in line with EIA Directive 2011/92/EU.

    Procurement

    The promoter is required to tender works, supplies and services contracts following procurement rules of relevant national and EU legislation, as defined by Directive 2014/25/EU, including publication in the Official Journal of the EU where appropriate.

    Status

    Signed - 30/11/2020

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Cyprus Energy